Given Peng

$SIVE looks like both a chokepoint and a bottleneck for CPO next year. Keep seeing information published from nontechnical people who miss any nuances. Here’s the reason why: 1. CW lasers are bottlenecked signaled by $LITE earnings. Laser fabs are heavily allocated to EML likely from former $NVDA contracts. -> Sumitomo/Furukawa = bottleneck -> Win Semi = bottleneck $SIVE does fab-lite, so are they a bottleneck? Yes, $SIVE sits in the laser bottleneck since control output supply of CW lasers from Win Semi and other fabs from allocation way early on (CEO stated they working with more capacity from other players as well). Perfect example is Kioxia/Sandisk. $SNDK controls NAND output, so they’re a bottleneck because they control final pricing. Demand exceeding supply from Ayar, Jabil, other pluggable vendors + Nvidia NVLink CPO ecosystem… final laser supply owned by $SIVE makes Sivers a bottleneck. $SIVE is also likely primary/sole source for Jabil, Gen-1 Ayar, $MRVL Celestial, and other hyperscaler asic/merchant CPO routes. So no way to get around it (can’t hot-swap single channel cw lasers with Sivers) 2. $SIVE is a chokepoint over CPO. $NVDA use $COHR, $LITE (which likely sources external cw capacity from Japanese competitors) $AVGO is likely vertically integrated as well. However: the entire ecosystem around it from ASIC programs (Marvell, AlChip, etc) and merchant programs (Ayar, Lightmatter, Lightelligence) Are all likely designed around $SIVE. Ayar for example, likely tried to multi-source with $MTSI / $LITE back in 2022 but their lasers probably couldn’t match the level of Sivers specification with arrays (removed Lumentum / Macom from their supply chain site recently) If there’s no alternative at least for the initial generations (obviously they’re working to multi-source). That makes $SIVE a structural chokepoint to go through for lasers. Even if you look at the 1.6T LRO $JBL designed, they achieved a “drastic moat” with performance built around $SIVE likely sole source. $SIVE is also the foundry level reference laser design for $GFS, which your hyperscalers use like $AMD (likely using Sivers + maybe Ayar for gen1): If every major player, who hasn’t achieved vertical integration (Nvidia/Broadcom) is using Sivers for CPO… That makes them a chokepoint. Just look at the entire CPO $NVDA NVLink ecosystem partners: every single one are all likely using Sivers. And they all use $GFS as well (where Sivers is default reference). So $SIVE is both a chokepoint and bottleneck when CPO really scales up H2 2027, over one of the biggest architectural shifts of all time (near $0 -> $81B or $91B TAM in the next 1 1/2 years from GS research note) This is why I say $SIVE looks like it could be the next $75B $LITE over the next couple years. All of this should play out next year. And it’s still trading less than a company with $50M in purchase agreements that buys Sivers lasers to repackage them.

最近刚想帮身边的朋友港股开户 富途就封了 还是只能用ibkr和robinhood了 在海外用惯了好用的信用卡和券商 体验过好的金融服务 才真正感觉到中国大陆是什么世界金融难民 润吧，不要回头的润

唏嘘错人了，而且错得离谱。 看别人张冠李戴的营销号文章被唬的找不着北。🤣 合肥模式的缔造者是孙金龙，2005到2011年的市委书记，60亿押注京东方是他拍的板，那六年合肥GDP从全国第75飙到第38。吴存荣当时不过是市长，是执行者。 2011年孙金龙走了他才接任书记，法院查明吴的受贿恰恰始于2006年市长任上，所谓"主动作为"，相当一部分是借审批权收钱。把这个人包装成"敢押上身家的强人"，我都不想说什么😅 真正开创这套打法的孙金龙现在官至正部级。 连案例都没搞清楚，就开始感慨政治现实、推导宏大命题，建议多读读书。

「莊」means "THE MASTER OF MARKETS" 「莊」is what you want to be in a market Master the market with HertzFlow.

想想挺好笑的，小心， $HYPE 这样PR程度，是要大量出货了 一个超级低调的团队，突然全网发PR，你觉得是什么情况 有一线的交易数据，离市场最近，你猜他们看见了什么

感觉X是男生的小红书